Quote:
Originally Posted by manaboutown
The CPI does not represent what the typical consumer experiences. Inflation has far exceeded the CPI's rate. My grocery, gasoline, utility bills and other items tell me this. Grocery prices literally soared over the past 3-4 years and are still going up but at a lower rate. True current inflation substantially exceeds the official 2.1%
|
math crime alert!
you are mixing and matching time periods. .
you are also mixing and matching local versus national rates
you can't compare the past 3-4 years with the current rate of inflation. .
you can't compare here versus nationally
There are several measures of inflation, each measuring different viewpoints.
The big ones are for latest Q3
year over year change:
CPI = 2.59%
Core CPI = 3.27%
Core CPI less shelter costs =
-3.8%
shelter costs (owners rent equivalent)
PCE = july 5.3%
Core PCE = July 2.62%
The Fed uses core PCE calculation for their policy
pick your poison!
note that the owners equivalent rent or shelter costs is a cluster fuss of a calculation,
and that insurance costs are even a bigger cluster in data estimation. .